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moe2
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Fed taxable income 5500 but no tax due how can this be

 
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DanaB
Expert Alumni

Fed taxable income 5500 but no tax due how can this be

Did you have any qualified Dividends or Capital gains on your return? If yes these taxes are calculated using the   Qualified Dividends and Capital Gain Tax Worksheet and depending on your tax bracket part of Dividends or Capital gains are taxed at 0%. 

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2 Replies
DanaB
Expert Alumni

Fed taxable income 5500 but no tax due how can this be

Did you have any qualified Dividends or Capital gains on your return? If yes these taxes are calculated using the   Qualified Dividends and Capital Gain Tax Worksheet and depending on your tax bracket part of Dividends or Capital gains are taxed at 0%. 

moe2
New Member

Fed taxable income 5500 but no tax due how can this be

That's exactly it!  Thanks Dana!
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